[G] Mining Limited v Bolivarian Republic of Venezuela (Paris Court of Appeal RG 21/10427)

Procedural record

1. 22 August 2016Arbitration

   22 August 2016Arbitration

   ICSID Award in ARB(AF)/12/5 dated 22 August 2016

   International Centre for Settlement of Investment Disputes

   Decision summary

   The tribunal found that Venezuela violated Article VII of the Canada–Venezuela bilateral investment treaty by expropriating [G]’s investment without compensation and violated paragraph 6 of the treaty Annex in relation to state measures adopted in 2010. It awarded [G] USD 966.5 million for the uncompensated expropriation.

   Participants

   Bolivarian Republic of Venezuela

   [G] Mining Limited

   International Centre for Settlement of Investment Disputes

   Arbitrator

   [R] [L]

   Arbitrator

   [D] [V] [O]

   Arbitrator

   [J] [X]

   5 years, 9 months and 16 days later · 2115 days

2. 7 June 2022France

   7 June 2022France

   Decision of the Paris Court of Appeal in the case RG 21/10427 dated 7 June 2022

   Paris Court of Appeal

   Case no.

   RG 21/10427

   Decision summary

   The Paris Court of Appeal rejected Venezuela’s application to annul the 22 August 2016 ICSID award in ARB(AF)/12/5. It held that the treaty’s three-year limitation and amicable-settlement requirements concerned the admissibility of claims rather than the tribunal’s jurisdiction, rejected the remaining jurisdiction and excess-of-mandate grounds, and thereby conferred exequatur on the award.

   Participants

   Bolivarian Republic of Venezuela

   Representative

   Luca De Maria (For: Bolivarian Republic of Venezuela)

   Representative

   SELARL Pellerin - De Maria - Guerre (For: Bolivarian Republic of Venezuela)

   [G] Mining Limited

   Representative

   Matthieu Boccon Gibod (For: [G] Mining Limited)

   Representative

   SELARL Lexavoué Paris-Versailles (For: [G] Mining Limited)

   Representative

   Christophe Seraglini (For: [G] Mining Limited)

   Representative

   Freshfields Bruckhaus Deringer LLP (For: [G] Mining Limited)

   Paris Court of Appeal

   Judge

   François Ancel

   Judge

   Fabienne Schaller

   Judge

   Laure Aldebert

   Other

   Institutional administrator

   Najma El Farissi

   Authorities cited

   3

   • French Code of Civil Procedure
     statute
   • Canada–Venezuela bilateral investment treaty, 1 July 1996 (Agreement between the Government of Canada and the Government of the Republic of Venezuela on the Promotion and Protection of Investments, 1 July 1996)
     treaty
   • Vienna Convention on the Law of Treaties, 23 May 1969
     treaty